NYSE-listed Level 3 Communications has priced at par US$300m worth of senior notes, due January 2018.
The floating rate notes will bear interest at Libor + 3.5% per year.
Proceeds from the transaction are to be used to refinance Level 3’s US$300m…
NYSE-listed Level 3 Communications has priced at par US$300m worth of senior notes, due January 2018.
The floating rate notes will bear interest at Libor + 3.5% per year.
Proceeds from the transaction are to be used to refinance Level 3’s US$300m outstanding floating rate senior notes due 2015.
The offering is the US telco’s fifth refinancing transaction in four months. In August, it completed the refinancing of two senior secured term loans totalling US$1.4bn, taking out senior secured loans due in 2019 and 2020.
Level 3 offers network services across 55 countries. It owns fibre networks and undersea cables serving enterprise and government clients. It also offers wholesale services to consumer-focused operators.
